In this paper, the microstructure, hardness, tensile deformation and fracture behavior of high strength alloy steel X2M is presented anddiscussed. The influence of both composition and processing on microstructure of the as-provided material and resultant influence of microstructure, as a function of orientation, on hardness, tensile properties and final fracture behavior is highlighted. The macroscopic mode and intrinsic microscopic features that result from fracture of the steel specimens machined from the two orientations, longitudinal and transverse is discussed. The intrinsic microscopic mechanisms governing quasi-static deformation and final fracture behavior of this high strength steel are outlined in light of the effects oftest specimen orientation, intrinsic microstructural effects and nature of loading.